Five reasons to have coverage
San Diego Commercial auto insurance is an essential investment for businesses that rely on vehicles for their operations. It provides financial protection against various risks, including accidents, theft, and liability. Here are five examples of coverage commercial auto insurance claims:
- Collision Coverage Claim
A company’s delivery van collides with another vehicle while navigating through a busy intersection. The accident causes significant damage to the van’s front bumper and engine. The company files a collision coverage claim to cover the cost of repairs, which includes the cost of parts, labor, and rental fees for a temporary replacement vehicle.
- Comprehensive Coverage Claim
A severe hail storm damages the windshield and body of a company’s fleet of cars parked in an open lot. The company files a comprehensive coverage claim to cover the cost of repairs and replacement of the damaged windshields and body panels.
- Liability Coverage Claim
A company’s driver is found at fault in an accident that injures a pedestrian. The pedestrian files a lawsuit against the company, seeking compensation for medical expenses and lost wages. The company’s liability coverage kicks in to cover the legal fees, settlement costs, and damages awarded to the pedestrian.
- Theft Coverage Claim
A company’s truck is stolen from a parking lot overnight. The thief drives the truck to a nearby state and abandons it after running out of gas. The company files a theft coverage claim to cover the cost of replacing the stolen vehicle, minus any deductible.
- Uninsured Motorist Coverage Claim
A company’s vehicle is involved in a hit-and-run accident, and the at-fault driver is uninsured. The company files an uninsured motorist coverage claim to cover the cost of repairs and medical expenses for any injured employees or passengers.
These examples illustrate the importance of having commercial auto insurance coverage to protect businesses from various risks and financial losses. By understanding the different types of coverage and claims, businesses can make informed decisions about their insurance needs and ensure they are adequately protected.
Other Examples of Coverage Commercial Auto Insurance Claims:
- Medical Payments Coverage
- Personal Injury Protection (PIP) Coverage
- Towing and Labor Coverage
- Rental Car Coverage
- Gap Insurance Coverage
It’s important to review your commercial auto insurance policy to understand the specific coverage and limits for your business.
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